February 8, 2018 / 9:28 AM / a year ago

U.S. growth could slip in coming two years: Kaplan

Robert Kaplan, President of the Federal Reserve Bank of Dallas, poses for a photo in Palm Beach, Florida, U.S. January 17, 2018. REUTERS/Ann Saphir

FRANKFURT (Reuters) - Economic growth in the United States may peak this year and could slow in the coming two years, Dallas Fed President Robert S. Kaplan told a business conference in Frankfurt on Thursday.

Kaplan, a non-voting member of the Fed’s policy committee, predicted that unemployment would dip below 4 percent this year, suggesting stress in the labor market.

“2018 will be a strong year in the United States,” Kaplan said. “Our Dallas Fed forecasts for GDP were somewhere between 2-1/2 and 2-3/4 percent.”

“We think we’re at or near full employment in the U.S.. We’d expect headline unemployment to dip below 4 percent during this year,” he said.

Reporting by Balazs Koranyi and Francesco Canepa; Editing by Gareth Jones

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